FTI Capital Advisors Supports Zain Group on Sale and Leaseback of 2,607 Towers in Jordan to TASC Towers
Washington, D.C., Jan. 5, 2022 — FTI Consulting, Inc. (NYSE: FCN) today announced that its wholly-owned investment banking subsidiary, FTI Capital Advisors DIFC Limited (“FTICA- D”), acted as the sole financial advisor to Mobile Telecommunications Company K.S.C.P (“Zain Group”) on the sale and leaseback of its 2,607 tower portfolio in Jordan to TASC Towers Holding Limited (“TASC Towers”). Zain Group holds a 25% minority stake in TASC Towers.
Bader Al-Kharafi, Zain Group Vice Chairman and Chief Executive Officer, said: “This transaction is consistent with Zain’s ‘4Sight’ strategy to create significant value for shareholders through the unlocking of capital and optimization of infrastructure assets which will flourish under the management of an independent team. As a strategic shareholder, we are committed on supporting TASC Towers’ regional expansion in making it a leading operator of telecom infrastructure.”
Fede Membrillera, a Senior Managing Director and TMT Lead for FTI Capital Advisors DIFC Limited, commented: “It represents a landmark transaction in Jordan and the seed to create a sustainable tower business in the country. Zain Group’s Jordan presence will benefit from additional flexibility in expanding its network to continue serving their clients’ needs while leading the connectivity development in the country.”
About Zain Group
Mobile Telecommunications Company K.S.C.P., together with its subsidiaries, is a leading provider of mobile telecommunication services in the MENA region. The company operates in Jordan, Sudan, Iraq, Bahrain, the Kingdom of Saudi Arabia, Lebanon and South Sudan. The company is publicly listed on the Kuwait Stock Exchange and has a market capitalization of $8.4 billion as of December 2021.
About TASC Towers
Headquartered in Dubai, the company is an international tower operator focused on sale and leaseback, build-to-suit and growth capital investments in the MENEASA market (Middle East, North & East Africa and South Asia).
About FTI Capital Advisors, LLC
FTI Capital Advisors is a global boutique middle market investment bank which specializes in M&A, capital raising, valuation and opinions, and special situations mandates across targeted industry sectors – including deep credentials in the media and entertainment sector, as well as in the energy, real estate, healthcare and industrial sectors. Backed by the power of FTI Consulting’s worldwide network of professionals, FTICA combines deep industry expertise with investment banking and transaction execution experience to deliver value enhancing outcomes for our clients. FTICA is registered with FINRA in the United States and engages in securities transactions pursuant to that registration. In non-US securities transactions, FTICA may be required to work with securities dealers registered in other countries. FTI Capital Advisors, LLC (member FINRA/SIPC) is the wholly owned investment banking subsidiary of FTI Consulting, Inc. (NYSE: FCN).
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Source: FTI Consulting, Inc.